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If your co-worker is smart and has too many productive things going on in real estate, then that's the way to go.
Thinking you can be IN real estate, and get paid for 30 hours or so while you work for the non-productive hours isn't going to work.
If you want to quit your FTE job, and have SOME income and as much work as you can bear, then look for a team. But on 90% of the most successful teams, you'll be working your ace off under some fairly "strict" systems and methods. I'd think you'll definitely learn ALL the methods used to gain clients, those you like and those you don't.
Are you referring to the methods...or the clients? haha.
I really don't feasibly see a way of keeping my current job and also building up the RE resume/training unless I could do so only on the weekends (which is the class schedule I had to take for pre-licensing). May just have to sink or swim for a few months. Terrifying but no risk no reward!
I'm definitely already learning to be weary of the recruiting methods and language used by some firms looking to hire. A lot of the local RE jobs I've seen posted on Indeed have some impressive tactics and use of creative language to make working for them sound idealized.
I saw a "we're so convinced you'll be successful; that we have a guaranteed $50,000 potential in your first year" blurb for a firm in Apex that I chuckled at.
Also apparently every office is "one of the top selling firms in the Triangle". Ok then.
if the 50K guarantee is with an outfit that is a contraction of America, then skip it. They don't have the volume to make that guarantee. Unless they scratch you a check for $50K upfront.
if the 50K guarantee is with an outfit that is a contraction of America, then skip it. They don't have the volume to make that guarantee. Unless they scratch you a check for $50K upfront.
I should have said "sizeable" by office count/agent count, etc
Our firm has > 100 I'm sure, but I'm not sure any individual office has a number that's > 15
I had to revisit.
Unsupervised brokers, PB and Full, are rampant in NC, and a new agent might expect to fail to get hired if seeking a large company BIC who complies with NCREC rules and guidelines regarding supervision.
"Additionally, a broker-in-charge should meet periodically with each agent to learn how many buyers/tenants the agent is working with and how many listing or property management presentations the agent has made in the last two or three weeks and collect all the signature panels from the agency disclosure brochure for all those buyers and sellers, which records must be retained for three years."
Also apparently every office is "one of the top selling firms in the Triangle". Ok then.
We joke that one office around here that claims to be "tops" is actually only tops because of their agents' penchant for wearing five-inch heels . . . *snark*
I had to revisit.
Unsupervised brokers, PB and Full, are rampant in NC, and a new agent might expect to fail to get hired if seeking a large company BIC who complies with NCREC rules and guidelines regarding supervision.
"Additionally, a broker-in-charge should meet periodically with each agent to learn how many buyers/tenants the agent is working with and how many listing or property management presentations the agent has made in the last two or three weeks and collect all the signature panels from the agency disclosure brochure for all those buyers and sellers, which records must be retained for three years."
you are correct, they have to routinely meet with the PB's. They go over deals, prospects/clients, collect the tabs, etc.
What's scariest to me - and to my business but frankly for the consumers - is all the FB's and newly-minted small shops that have fewer than 5 transactions under their belt. How the BIC can sign a statement saying that person has been full-time (equivalent) for 2 years is unconscionable.
you are correct, they have to routinely meet with the PB's. They go over deals, prospects/clients, collect the tabs, etc.
What's scariest to me - and to my business but frankly for the consumers - is all the FB's and newly-minted small shops that have fewer than 5 transactions under their belt. How the BIC can sign a statement saying that person has been full-time (equivalent) for 2 years is unconscionable.
The guidelines do NOT state meeting with PBs, but with every supervised agent.
And, no one is doing that.
For more clarity, I should have posted the entire section, but it is long.
Suffice to say:
CONCLUSION
Brokers-in-charge are responsible for supervising all agents in their office as to the agents’ compliance with the agency disclosure and agreement requirements of Rule A.0104.
...
"Additionally, a broker-in-charge should meet periodically with each agent to learn how many buyers/tenants the agent is working with and how many listing or property management presentations the agent has made in the last two or three weeks and collect all the signature panels from the agency disclosure brochure for all those buyers and sellers, which records must be retained for three years."
rule A.0104 doesn't mention anything that I found about supervising brokers, regardless of the brokers PB or FB status.
the CE mentions how the BIC is responsible for the PB's.
The paragraph in question says this:
Quote:
Not only must brokers-in-charge train their agents, they also must periodically check to
see that each agent is following office policy both in providing agency disclosures and obtaining
agency agreements in a timely fashion.
Having never been a PB nor a BIC, it's not possible for me to speak with complete accuracy. I imagine what they're doing is stressing to the PB's the correct habit of obtaining the WWA at first significant contact. Heck, how many emails do you get now from brokers that have the phrasing and the link in their signature?
It's one thing for CE to say BIC's SHOULD review the same things with FB's. All it requires them to do is ensure we FB's are following the requirement to have WWA's in a timely fashion and signed BA's before we write offers.
I meet with my BIC "regularly". I turn in paperwork "regularly" - thank you clients! The paperwork always, on the upfront, has an agency agreement (buyer or seller) and a WWA.
But until the pass a rule that FB's must be supervised like PB's, then we won't be required to list clients and show WWA's and agency agreements.
Instructor has made it sound like in the Triangle....PBs will have BICs chasing them down trying to get them to work for their firm and to be vigilant in vetting firms to work for as they vet you. "You'll be interviewing them"
To be fair she also seems to imply that the majority of those jobs offered wouldn't be worth our time (especially if they were looking for buyers agents only....this is the fastest way to be a "broke broker" as she says)
I spent several years being the buyer's agent on a team, splitting it 50-50, and making very good money. And the larger teams out there today do more business as a unit than we did.
You'd certainly want to know what they did, how many "mouths they have to feed" and the breakdown of Buyers v Listings. I recently talked to someone who was looking at being a buyer's agent, and the team had 3 BA's and 20 total buyers in 2017. On that, you may very well go broke.
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